In 2007, when we raised our first round of financing for my own startup, WooMe – a video dating website – we were able to find investors with a speculative business model, which seemed like a good thing at the time
Unfortunately, we no longer live in the wonderland of the year 2000, when it was only about users and traffic – and revenues didn’t really matter. Ah, those were the days! Trust me when I say it’s no fun being in that position. ‘But what about Instagram and Snapchat?’ I hear you cry! While it is indeed possible to build an app with bucketloads of users and no revenue to speak of, it’s not a strategy that you should bet on. Continue reading “And, during the struggle to deliver the business model, we were very much beholden to our investors”